Horn & Hardart Co. v. 115 East 14th Street Co.

The judgment for specific performance previously entered herein (Horn & Hardart Co. v. 115 East 14th Street Co., 7 N. Y. S. 2d 688; affd. 257 App. Div. 813; affd. 281 N. Y. 802) provided for the appointment of a referee to ascertain the value of the property concerning which the action was brought. This valuation was required under the terms of the lease, which provided for a renewal term of twenty-one years at a net rent which was to be five per centum of the appraised value of the lots of land demised, excluding buildings, as of April 30, 1937, “ at their full and fair worth or price at…